Transaction: BWB advised AIM listed Eleco plc on the sale of its precast concrete interests comprising two freehold properties, and the business and assets of its wholly owned subsidiary, Milbury Systems Limited to F.P. McCann Limited for £2,500,000. Eleco’s other precast concrete business, Bell & Webster Concrete Limited, was shortly thereafter placed into Administration on 6 January 2014.

Client: Following the divestment of its precast concrete interests, Eleco will emerge as a specialist software and software services group, developing and marketing software tools used by the construction industry to manage building information and construction projects.

Lawyers: David Davies led the team, assisted by Natalie Knight-Wickens and Gemma Boore on the corporate aspects. They were supported by Martin Gunson on the property aspects and Paul Jennings on the employment aspects.

Observations: Having successfully advised Eleco on the sale of the business and assets of its building products manufacturing businesses in May 2013, we were delighted to have the opportunity to further build on our relationship with Eleco. These transactions further demonstrate our expertise in undertaking M&A work for AIM listed clients and reinforces our continued interest in the technology sector.

Posted on 13/02/2014 in Equity Capital Markets

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